Lithuania has been ranked by Forbes magazine as the world's 17th best country to do business in, in 2015.
According to The Telegraph, Lithuania has jumped from 22nd place last year in 2014.
Estonia is ranked 19th, while Latvia did not rank in the top 20.
Denmark tops Forbes' list of the Best Countries for Business in 2015, followed by New Zealand, and Norway in third.
The magazine assessed 144 nations on 11 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.